Woolies has been in a strong uptrend but recently has come against the following factors:
1. Time - it has been 26 weeks since it began an uptrend, quite long basing on history.
2. It has a building negative divergence on RSI14 (not shown here).
3. It is forming a swing high on daily & weekly time frame.
4. As price rose, volume decreased indicating there might be some stop losses triggered that pushed price up.
A weekly swing high confirmation is a good place to enter short while more risk accepting can do so on a daily time frame. After a pullback around 8-10% price can attempt another shot at higher price but major trend will be down.
1. Time - it has been 26 weeks since it began an uptrend, quite long basing on history.
2. It has a building negative divergence on RSI14 (not shown here).
3. It is forming a swing high on daily & weekly time frame.
4. As price rose, volume decreased indicating there might be some stop losses triggered that pushed price up.
A weekly swing high confirmation is a good place to enter short while more risk accepting can do so on a daily time frame. After a pullback around 8-10% price can attempt another shot at higher price but major trend will be down.
Dagangan ditutup: sasaran tercapai
WHL has met the objectives, price now looking primed for a trend change, see updated idea on roadmap from here onwards.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.